[ad_1] WASHINGTON – The Federal Reserve in a closely watched decision Wednesday held the line on benchmark interest rates though still indicated that reductions are likely later in the year.Faced with pressing concerns over the impact tariffs will have on a slowing economy, the rate-setting Federal Open Market Committee kept its key borrowing rate targeted in a range between 4.25%-4.5%, where it has been since December. Markets had been pricing in virtually zero chance of a move at this week’s two-day policy meeting.Along with the decision, officials updated their rate and economic projections for this year and through 2027 and…
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[ad_1] On 19 March, the European Commission introduced an Action Plan to strengthen the steel and metals sectors, which are critical for the European economy and key industries like automotive and clean technology. This initiative addresses challenges such as high energy costs, unfair global competition, and the need for investments to reduce greenhouse gas emissions. Key components of the Action Plan include affordable and secure energy supply, preventing carbon leakage, protecting industrial capacities, promoting circularity, de-risking decarbonisation and protecting jobs. Commission President Ursula von der Leyen said: “The steel industry has always been a core engine for European prosperity. Next-generation, clean…
[ad_1] The Federal Reserve’s decision to leave its benchmark interest rate unchanged yet again will likely leave mortgage rates hovering near their current level as the spring homebuying season gets underway.The Fed’s decision on Wednesday was widely expected, but confirmed the central bank’s intention to remain on the sidelines for now, as economic uncertainty and stubborn inflation data make the future path for rate policy uncertain.The Fed’s overnight interest rate has now remained unchanged at a range of 4.25% to 4.5% since mid-December, after the central bank made no move at its meeting in January or on Wednesday.Meanwhile, mortgage rates…
[ad_1] US President Donald Trump arrives to speak about the United States – Mexico – Canada agreement, known as USMCA, during a visit to Dana Incorporated, an auto supplier manufacturer, in Warren, Michigan, January 30, 2020.Saul Loeb | Afp | Getty ImagesDETROIT — President Donald Trump’s proposed tariffs on goods from Mexico and Canada would hit automotive suppliers harder than automakers, but their problems could quickly have ripple effects on the broader industry. Most vehicles produced in North America meet the requirements for free trade under the United States-Mexico-Canada Agreement, but far fewer individual parts meet the stringent standards under the 2020 North American trade deal…
[ad_1] Europe’s heavy industry, meanwhile, is hanging by a thread. Already clobbered by high energy costs, the metallurgical sector is now bracing for a new assault: a flood of cheap Asian metal coming into Europe after U.S. President Donald Trump increased tariffs on global imports of steel and aluminum. The move has reignited a trade war between the two jurisdictions that led the EU to retaliate with its trade “sledgehammer” to protect its domestic economy. Then there’s the pressure to go green. Few jurisdictions have climate rules as stringent as the EU, and compliance is costly and complicated for polluting…
[ad_1] 6 min read5 hr Defence manufacturers are urging the government to use private finance models to fill capability gaps as Britain looks to rearm rapidly. They told PoliticsHome that ministers using private finance will ease pressure on the taxpayer as the government prepares to ramp up defence spending. In February, the government announced it would increase defence spending to 2.5 per cent from April 2027, with the goal of reaching 3 per cent within the next Parliament. Prime Minister Keir Starmer described the defence challenge facing the UK as “generational” as it prepares to provide military protection…
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[ad_1] British Columbia’s budget shows that the impending end of the province’s consumer carbon tax will leave a roughly $1.5-billion hole in its revenue streams, with one expert saying “there will be both winners and losers” from the change.The budget released earlier this month shows the province was forecasting revenue of just over $2.5 billion from the tax in the 2024-25 fiscal year, while the estimated cost of the climate action tax credit was $995 million.Werner Antweiler, associate professor at the Sauder School of Business at the University of British Columbia, said that leaves about $1.5 billion in revenue the province…
[ad_1] Image source: Getty Images In 2024, IAG (LSE:IAG) shares nearly doubled in value and the airline group was crowned the FTSE 100‘s highest flier. Thanks to earnings that beat market expectations, the company awoke from its prolonged, pandemic-induced slumber with a bang. However, the owner of British Airways and Iberia has made a turbulent start to 2025. Down nearly 20% since its peak in February, is the party over for the IAG share price? Or is it simply refuelling for another leg up? Here’s what City analysts reckon with the stock trading at £2.94 today (19 March). The stock’s…
[ad_1] The European Commission (EC) on Wednesday presented an action plan to strengthen Europe’s steel and metals industries, addressing key challenges such as high energy costs, preventing carbon leakage and promoting industrial competitiveness. [ad_2] Source link